BPI France, Omnes lead €12m series-A for AlgoTherapeutix

Existing and new business angels also significantly participated in the financing round.

BPI France invested in the company via its InnoBio 2 fund, a €143m vehicle dedicated to investments in life sciences.

The fund targets companies developing innovative products and services, close to or in early clinical development, with the aim of helping them reach clinical proof of concept. InnoBio 2 takes minority equity stakes and can lead or co-lead the investment rounds.

AlgoTherapeutix intends to use the proceeds of this round to finance the clinical development of its lead candidate ATX01 up to clinical proof of concept.

Company
AlgoTherapeutix develops a topical treatment for chemotherapy-induced peripheral neuropathy, which produces loss of sensitivity, tingling, burning, cold and intense pain.

The company's lead candidate is ATX01 and is due to enter phase-I clinical trials in early 2021.

AlgoTherapeutix was established in 2018 and is based in Paris.

People
BPI France – Thibaut Roulon (investment director).
Omnes Capital – Claire Poulard (principal).
AlgoTherapeutix – Stéphane Thiroloix (founder, CEO).

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Send to  

• Topics
• Early-stage
• France
• Healthcare
• Venture
• BPI France
• Omnes Capital
• France